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NAI West, The Sun Products Corporation, and Freeport West Industrial Properties recently completed one of Utah’s largest lease transactions in 2012.
The 1,000,000 square foot lease, located at Freeport West Landmark Industrial Park, will allow Sun Products to better optimize its Salt Lake City distribution centers. By consolidating its warehousing from six buildings to two main distribution centers, the company will realize significant complexity reduction, better workforce utilization, reduced local transportation requirements (reduced emissions), and improved customer responsiveness.
The property is made up of two buildings but will operate as one primary distribution facility: one building was completed and delivered this month, and an adjacent twin building to be completed in the third quarter of 2013. The buildings will provide warehouse, office, and light manufacturing space.
“Due to the accessibility of major interstates and a large rail hub, the versatility of the property and buildings, and proximity to other Sun Products facilities, Freeport West made the most strategic and economic sense,” said Skip Tappan, corporate director of distribution and logistics for Sun Products Corporation. “We are extremely pleased with the cooperation of all involved in this project. The teamwork between Sun, NAI WEST, Freeport West, and Big-D led to the completion of this complex undertaking and demonstrated the power of full collaboration.”
Sun Products, headquartered in Wilton, Connecticut, is a leading provider of laundry detergent, fabric softeners, and other household care products. Sun Products brands include Wisk, all, and Snuggle, and the company also serves as manufacturing partner for many of North America’s leading mass merchandisers, warehouse clubs, and food, drug and dollar retailers.
Speaking of the transaction, NAI WEST Executive Vice President Zach Anderson said, “We have been working with Sun Products on this project for quite some time and feel it is a win-win for both Sun Products and Freeport West. It has been a pleasure to work on the largest industrial lease in Salt Lake City that will create a long term solution for Sun Products.”
Freeport West Industrial Properties was represented by executive managing director Brad Ross. Freeport West has nearly 10 million square feet in Utah, California and Nevada and has been developing, leasing and managing industrial space since 1963. All properties are owner controlled, allowing for quick decisions and attention to each tenant’s individual requirements and needs. Freeport West also has more than 450 acres of land for future development or to be built to tenant specifications
“Our expertise is solving tenant needs,” said Ross. “Because we are owner controlled, we are flexible enough to get big deals done. This is a unique opportunity and we are thrilled we were able to help it come together, and help Sun Products with their needs.”
This successful transaction highlights the continued growth of Utah’s commercial real estate market and the state’s ability to attract and retain leading businesses.